L&T Shares Plunge Over 4% on Kuwait Tender Scare, Recover After Clarification
Business
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Moneycontrol•13-01-2026, 17:32
L&T Shares Plunge Over 4% on Kuwait Tender Scare, Recover After Clarification
- •Larsen & Toubro (L&T) shares fell sharply on January 13 due to reports of Kuwait canceling oil project tenders.
- •The company clarified that the mentioned project was not part of its order book, leading to some recovery.
- •Middle East Economic Digest (MEED) reported Kuwait considering canceling $8.7 billion oil project tenders.
- •L&T's current order book exceeds Rs 6.5 lakh crore, with a strong order inflow guidance for FY26.
- •L&T also secured a large order for a cable-stayed bridge over the Muri Ganga River in West Bengal.
Why It Matters: L&T shares recovered from a significant dip after clarifying that reported Kuwait project cancellations didn't affect its order book.
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